Meet The 18 People Who Could Determine The Fate Of Social Security | TPMDC

Meet The 18 People Who Could Determine The Fate Of Social Security | TPMDC

Why did President Obama appoint a bunch of millionaires to meet in secret about cutting Social Security in the name of deficit/debt reduction? Why did he put Social Security on the commission's agenda? Social Security does not contribute to the deficit/debt. There are solvency problems within Social Security -- a shortfall in payouts thirty-plus years from now. The shortfall problem can be addressed within the framework of the Trust Fund by raising the cap on income that is subject to FICA contributions. The projected Social Security shortfall and debate about how to fix it do not bear upon imminent deficit causes and cures. Do not let the deficit commission make Social Security the scapegoat for true fiscal reforms such as raising taxes on the rich, cutting corporate welfare, ending wars.